Speculative WATT entry before CES 2017
Updated
We are watching for a good entry point on Energous with the expectation that price will jump to the green range by JAN 5, when WATT will demo wireless power rx/tx in consumer products. Successful product shipment is already being priced in as the chart follows the green range into DEC. We will look to add to our position if price falls into lower blue range in DEC.
Note
6 days after opening this idea, the chart has clearly stayed within the green range. Today, it jumped over 16.50 resistance and I have unloaded all the shares I held when I opened the idea for a 17% profit. My current sentiment is bullish and I may have missed a chance to profit on the breakthrough by picking up additional shares around 15.50. However, only time can tell if this is a true breakout or if we will see another steep regression back into the mid blue range. If the blue regression does occur, I hope to re-enter around 15.50-15.70.Note
Now 15 days after the idea's inception, we've watched the price leap to above 17.60, only to recede just as quickly to a December 14 intraday low of 15.60. This change represents a 5-day peak to trough change of -11%. On its way down, we added shares at an average price of 15.95. Today, December 15, articles are already being published hyping the probable appearance of Energous tech in the 2017 iPhone 8. These rumors should continue to propel this stock shakily upward through the end of December, which could set up an opportunity for all time highs around the 2017 Consumer Electronics Show. Energous CEO has promised to have at least 4 consumer device companies demonstrating WattUp tech in their products at the event.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.